Home Gold Price Analysis: XAU/USD starts the week with a push to $1700/oz level

Gold Price Analysis: XAU/USD starts the week with a push to $1700/oz level

Published date: 20 Apr. 2020 | 19:42

XAU/USD is starting the week with a modest push higher.
The level to beat for bulls is the 1700 resistance.

XAU/USD daily chart

Gold is trading off the 2020 high while trading above the main DMAs (daily simple moving averages) suggesting a bullish bias.

XAU/USD four-hour chart

XAU/USD is trading above the main SMAs, making higher highs and lows while challenging the 1700 resistance. A break beyond this level can lead gold towards the 1740 and 1780 levels in the medium term. Support can be expected near the 1670 and 1660 price levels.

Additional key levels

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